a Wheel strategy is a cool way to generate passive income. Below is some food for thought.
Put-Call Fund, if u will. Easy to learn, easy to do. Caution with the quality of the underlying(s), i only use etfs take out stock specific risk. And TA for the 'safest' entry . The intent is not capital appreciation, its not to 'beat the market'. rather to create yield from a pool of money .
let me share my journey with one of my underlyings used in 2022 - SOXX. The journey will end today (may re-use this underlying but need to wait for entry, TA ). 2022 was a trying year for the markets to say the least . Sell puts often enough and you will eventually be assigned , --when assigned then to sell calls until shares r called away-rinse and repeat.Hence the use of the word 'WHEEL' . Sellers of options get premium, kinda like being the house, or an insurance company. The insurance company analogy is a very good one.
copied the transactions from my discount broker,
it all starts with selling a put, again if assigned then to sell calls and......... get more premium ;
PUT SOXX 05/20/22 405 ISHARES SEMICONDUCTOR ETF
+1158
(initiated April 13, 2022)
assigned
CALL SOXX 06/17/22 405 ISHARES SEMICONDUCTOR ETF
+1388
expires worthless
CALL SOXX 08/19/22 405 ISHARES SEMICONDUCTOR ETF
+1038
shares called away, now re-sell a put if chart is okay
PUT SOXX 09/16/22 390 ISHARES SEMICONDUCTOR ETF
+1188
assigned, face nearly torn off actually....
CALL SOXX 12/16/22 390 ISHARES SEMICONDUCTOR ETF
+1038
expires worthless
CALL SOXX 02/17/23 390 ISHARES SEMICONDUCTOR ETF
+1043
shares will be called away today , Friday 17th
total days - 310 days
dividend incurred while holding : 348
(capital appreciation : ZERO)
premium (passive income) generated by selling calls/puts: $6,853
capital deployed; approx $39,750 ($405, then $390.. simplifying the math )
roi - 18.1%
aroi- 21.3%
i will also lose JETS today. Airlines dont pay as much premium, but they kinda do nothing (sideways action) making JETS a good underlying in put/call fund
Put-Call Fund, if u will. Easy to learn, easy to do. Caution with the quality of the underlying(s), i only use etfs take out stock specific risk. And TA for the 'safest' entry . The intent is not capital appreciation, its not to 'beat the market'. rather to create yield from a pool of money .
let me share my journey with one of my underlyings used in 2022 - SOXX. The journey will end today (may re-use this underlying but need to wait for entry, TA ). 2022 was a trying year for the markets to say the least . Sell puts often enough and you will eventually be assigned , --when assigned then to sell calls until shares r called away-rinse and repeat.Hence the use of the word 'WHEEL' . Sellers of options get premium, kinda like being the house, or an insurance company. The insurance company analogy is a very good one.
copied the transactions from my discount broker,
it all starts with selling a put, again if assigned then to sell calls and......... get more premium ;
PUT SOXX 05/20/22 405 ISHARES SEMICONDUCTOR ETF
+1158
(initiated April 13, 2022)
assigned
CALL SOXX 06/17/22 405 ISHARES SEMICONDUCTOR ETF
+1388
expires worthless
CALL SOXX 08/19/22 405 ISHARES SEMICONDUCTOR ETF
+1038
shares called away, now re-sell a put if chart is okay
PUT SOXX 09/16/22 390 ISHARES SEMICONDUCTOR ETF
+1188
assigned, face nearly torn off actually....
CALL SOXX 12/16/22 390 ISHARES SEMICONDUCTOR ETF
+1038
expires worthless
CALL SOXX 02/17/23 390 ISHARES SEMICONDUCTOR ETF
+1043
shares will be called away today , Friday 17th
total days - 310 days
dividend incurred while holding : 348
(capital appreciation : ZERO)
premium (passive income) generated by selling calls/puts: $6,853
capital deployed; approx $39,750 ($405, then $390.. simplifying the math )
roi - 18.1%
aroi- 21.3%
i will also lose JETS today. Airlines dont pay as much premium, but they kinda do nothing (sideways action) making JETS a good underlying in put/call fund
needed the 3rd try
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click candlestick, click 1M (monthly)......then see the week;y click 1W...... first sight of resistance 28,300ish ...may in time want to back test the breakout area. NOT trading this, just holding
Powell next week. He will not follow the ECB's lead- 50 basis pts is off the table thanks to the good old US of A banks. lol, never gets old. De-regulation ...again? one of the guys that lobbied for ease of Dodd-Frank was the CEO at SVB in 2018. Kudos he won....fast forward to today and asking for govt help? ....the nutters at SVB went all-in with US long-term treasuries? LOL
with that said when's there's blood on the streets........
XLF
2 yr weekly
clear as day. coming to the bottom of the box $30-$31 zone. A loss of this level? yikes, gap fill $25ish. Cant sell a put, yet....waiting on ( the weekly chart) ideally : RSI below 30, bullish candlestick, vol decreasing
with that said when's there's blood on the streets........
XLF
2 yr weekly
clear as day. coming to the bottom of the box $30-$31 zone. A loss of this level? yikes, gap fill $25ish. Cant sell a put, yet....waiting on ( the weekly chart) ideally : RSI below 30, bullish candlestick, vol decreasing
THE Defending Stanley Cup Champions rounding into form, still minus their Captain. But got Byram back (no way they are going to be able to sign this guy ). They have won 5 straight with Makar shinning, 10 pts lol .
In the history of the NHL only 3 defensemen have over a point a game in their career. Orr (1.39) .....Coffey (1.09).......Makar (1.02) . In today's game? geez, only 24 ...we shall see. GREAT pick up by Edm with Ekholm, kudos ....its Skinner or bust .
2 others im looking at , (neither has their respective rsi near 30 , would b ideal )
JETS (airlines ..old reliable...lol)
2 yr weekly
....$16.50-$17/ last weeks' candle suggests further downside risk. Of course a binary major event on Wed, so could reverse violently
XLE (energy)
2-yr weekly
just look at that volume last week, lol . Gap fill at $73 ish. Lookin' at $65-$70 zone. To lose that support going to need a nasty catalyst.
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that's OIL's chart, look at the montly ,click 1M. Right at support lol, RSI is under 30 on the monthly severely oversold , the last time it was below 30? april 2020 (covid shitshow)
In the history of the NHL only 3 defensemen have over a point a game in their career. Orr (1.39) .....Coffey (1.09).......Makar (1.02) . In today's game? geez, only 24 ...we shall see. GREAT pick up by Edm with Ekholm, kudos ....its Skinner or bust .
2 others im looking at , (neither has their respective rsi near 30 , would b ideal )
JETS (airlines ..old reliable...lol)
2 yr weekly
....$16.50-$17/ last weeks' candle suggests further downside risk. Of course a binary major event on Wed, so could reverse violently
XLE (energy)
2-yr weekly
just look at that volume last week, lol . Gap fill at $73 ish. Lookin' at $65-$70 zone. To lose that support going to need a nasty catalyst.
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Get instant access to a free live streaming Crude Oil WTI Futures chart.
that's OIL's chart, look at the montly ,click 1M. Right at support lol, RSI is under 30 on the monthly severely oversold , the last time it was below 30? april 2020 (covid shitshow)
SVB bank what a joke . Truly amazing how government never fails no matter how much they suck ass. Every empire eventually collapses guess it’s our turn. What is truly mind blowing is how stupid we have become. For instance the lack of education and their excuse is Covid so their answer is lower the standards so now the kids in school are about as equally intelligent as the kids coming across the boarder. Ignorance is bliss pretty soon assisted suicide will be like delivery pizza
I’m liking the leafs to make a deep runhttps://jonathanturley.org/2023/03/...oficiency-standards-due-to-poor-test-results/
posted this in Jan
'click 1M (monthly)..look at that Nov candle, lol. Keep in mind Powell is still raising rates. Target is $88-$90 in time .'
lets have a re-look at the greenback using UUP
UUP
2 yr weekly
lost its 50 sma...the real fun is when she tests $27.50 ish zone . an army to defend?...again its losing steam while Powell is still RAISING rates , lol
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look at the monthly, a bearish engulfing candle would not bode well ....one more week of action till that closes. Daily is set for a rebound , qqq's last 2 daily candles r ugly. the qqq's r holding the market
imo, i do not think UUP loses that $27.50 zone on its first try
the Bank of Canada and the Fed are diverging. Canada did not raise, and they likely aint raising for the rest of the year! These two banks walk hand in hand ..........in normal times .
'click 1M (monthly)..look at that Nov candle, lol. Keep in mind Powell is still raising rates. Target is $88-$90 in time .'
lets have a re-look at the greenback using UUP
UUP
2 yr weekly
lost its 50 sma...the real fun is when she tests $27.50 ish zone . an army to defend?...again its losing steam while Powell is still RAISING rates , lol
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In this section you'll find a streaming chart for the US Dollar Index.
look at the monthly, a bearish engulfing candle would not bode well ....one more week of action till that closes. Daily is set for a rebound , qqq's last 2 daily candles r ugly. the qqq's r holding the market
imo, i do not think UUP loses that $27.50 zone on its first try
the Bank of Canada and the Fed are diverging. Canada did not raise, and they likely aint raising for the rest of the year! These two banks walk hand in hand ..........in normal times .
nasdaq futures
click 1D
double top? back to back candles with long wicks above the bodies, not good...and oversold. Again tech is carrying the SPY. Makes for an interesting day tomorrow
XLF refuses to give up its 200 sma...battle of bulls /bears lol
sold the SPY $390 put (about a month ago) expires tomorrow....epinephrine rush a comin'...
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Free live streaming charts for the Nasdaq Futures.
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click 1D
double top? back to back candles with long wicks above the bodies, not good...and oversold. Again tech is carrying the SPY. Makes for an interesting day tomorrow
XLF refuses to give up its 200 sma...battle of bulls /bears lol
sold the SPY $390 put (about a month ago) expires tomorrow....epinephrine rush a comin'...
In a prior column, I was particularly moved by the frustration of a mother in Baltimore recently who complained that her son was in the top half of his class despite failing all but three of his classes. Graduating students without proficiency in English or Math is the worst possible path for these students, schools and society.
It is the dumbing down of America but administrators, boards, and unions insist that it is better for these students, who face dismal prospects for future employment. In the meantime, we are pouring billions into schools that cannot produce a single proficient student in basic subjects. If this were a business, there would be criminal fraud charges across the nation.'
spot on with the bold. decreasing standards? fuck ,does anyone care anymore?
....................
Lliking the leafs? dubas definitely improved this team - added a Frank Selke/Conn Symthe winner and a couple dee that r stay at home and have no issue getting dirty . Luke is 6'2, 230 . We shall see--its the Leafs, they can fuck anythign up haha!! .......... Keefe keeps changing lines, that dude has OCD......STOP OVER EATING KEEFE put the fuckin' burger down and leave the 2 top lines alone!!!!!!!!! he had kerfoot-mathews -Jarnkrok as the top line a game ago,lol...............should be a fun playoffs. bruins added some quality pieces, geez
who turned on the algos? ...cool , was prepared to roll down and out my SPY put, not needed
from a few posts above;
'clear as day. coming to the bottom of the box $30-$31 zone. A loss of this level? yikes, gap fill $25ish. Cant sell a put, yet....waiting on ( the weekly chart) ideally : RSI below 30, bullish candlestick, vol decreasing'
XLF
weekly
decreased vol..doji....a positive opening on monday would b ideal ......need a catalyst to break this level imo (Powel on his own coudlnt , lol ). To sell a put on zeb, cdn banks
...cool , was prepared to roll down and out my SPY put, not needed from a few posts above;
'clear as day. coming to the bottom of the box $30-$31 zone. A loss of this level? yikes, gap fill $25ish. Cant sell a put, yet....waiting on ( the weekly chart) ideally : RSI below 30, bullish candlestick, vol decreasing'
XLF
weekly
decreased vol..doji....a positive opening on monday would b ideal ......need a catalyst to break this level imo (Powel on his own coudlnt , lol ). To sell a put on zeb, cdn banks
That's their goal.
Bring down their old 'system' so they can herd everyone into their new 'system', CBDC, aka digital concentration camps.
40,000 FOOT VIEW ? ? ? ?
Petro dollar system ?
- Setup oil system in the Middle East
- Become dependent on foreign oil
- Create an event to remove the peg to gold
- Petrodollar, full fiat
- Destroy manufacturing, move it out of the country
- New system enslaves the people
Green New Deal ?
- Setup mineral mining and production in Africa and China
- Destroy energy independence in US
- Increase Fuel Prices
- Become dependent on China for solar panels, wind turbines and batteries
- Create events to move us from fossil fuel to electric, eg. Gas ovens, emissions, to expensive to keep gas powered car
- Companies push agenda, Blue states push agenda
- New system enslaves people
Great Reset ?
- Setup a CBDC
- Control gold, silver, demonize Bitcoin
- Inflation used to destroy old fiat system
- Fed raises rates to destroy old system
- Event needed to move people from fiat to CBDC
- Destroy banks, part of old system
- Old system fragile convince the people the CBDC would protect their wealth
- News system enslaves, controls and punishes the people
President Trump ?
- US Federal Reserve is a privately-owned company, sitting on its very own patch of land, immune to the US laws
- 1929 Crash coming
- Gold will destroy the Fed
- Fed restructuring
- Andrew Jackson destroyed the second central bank, the people were behind him
- Trump, the people are behind him
- Put an end to the endless
- Never interfere with an enemy while they are in the process of destroying themselves
- Third central bank destroyed
